short term – Blog Campcee Tue, 29 Mar 2022 08:48:08 +0000 en-US hourly 1 short term – Blog Campcee 32 32 Today’s Mortgage Rates Are Climbing | March 4, 2022 Fri, 04 Mar 2022 13:30:12 +0000

Interest rates for purchase and refinance loans are higher today, with some categories of loans seeing significant increases.

For buyers, the average rate for a 30-year fixed rate mortgage is 4.531%. That’s an increase of 0.149 percentage points from a day ago. Meanwhile, the rate for a 30-year refi is averaging 4.618%, up 0.155 percentage points.

The biggest change is in the average 30-year jumbo purchase loan rate, which jumped 0.446 percentage points to 4.299%.

  • The last rate on a 30-year fixed rate mortgage is 4.531%. ⇑
  • The final rate on a 15-year fixed rate mortgage is 3.494%. ⇑
  • The latest rate on a 5/1 ARM is 3.171%. ⇑
  • The latest rate on a 7/1 ARM is 3.445%. ⇑
  • The latest rate on a 10/1 ARM is 3.538%. ⇑

Money‘s daily mortgage rates reflect what a borrower with a 20% down payment and a credit score of 700 — roughly the national average score — could pay if he or she applied for a home loan right now. Each day’s rates are based on the average rate that 8,000 lenders offered applicants the previous business day. Freddie Mac’s weekly rates will generally be lower, as they measure the rates offered to borrowers with higher credit scores.

Are you looking for a loan? Check out Money’s lists of top mortgage lenders and top refinance lenders.

Today’s 30-Year Fixed Rate Mortgage Rates

  • The 30-year rate is 4.531%.
  • It’s a day infold by 0.149 percentage points.
  • It’s a month to augment by 0.395 percentage points.

The main advantage of a 30-year fixed rate mortgage is its long repayment term. By dividing the loan balance over several months, you pay less each time. The fixed rate also means that these payments will never change. The downside is that the interest rate is higher than on a short-term loan, so you’ll end up paying more over time.

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Average mortgage rates

Data based on US mortgages closed March 3, 2022

Type of loan 3rd of March Last week Change
15-year fixed conventional 3.49% 3.53% 0.04%
30-year fixed conventional 4.53% 4.49% 0.04%
ARM rate 7/1 3.45% 3.52% 0.07%
ARM rate 10/1 3.54% 3.64% 0.1%

Your actual rate may vary

15 years today fixed rate mortgage rates

  • The 15-year rate is 3.494%.
  • It’s a day infold by 0.132 percentage points.
  • It’s a month infold by 0.369 percentage points.

Some borrowers prefer 15-year fixed rate loans because interest rates tend to be low and the short payback period means you’ll pay less interest overall. However, the short term also means the monthly payments will be higher and may not be as manageable as a 30 year loan.

The latest rates of adjustable rate mortgages

  • The latest rate on a 5/1 ARM is 3.171%. ⇑
  • The latest rate on a 7/1 ARM is 3.445%. ⇑
  • The latest rate on a 10/1 ARM is 3.538%. ⇑

An adjustable rate mortgage can be an attractive option for borrowers who don’t plan to stay in a home for the long term. The interest rate will first be fixed and then begin to adjust periodically. For example, a 5/1 ARM will have a stable rate for five years before starting to adjust each year. Keep in mind, however, that once the rate begins to adjust, it could rise significantly.

The Latest VA, FHA, and Jumbo Loan Rates

The average rates for FHA, VA, and jumbo loans are:

  • The rate on a 30-year FHA mortgage is 4.282%. ⇑
  • The rate for a 30-year VA mortgage is 4.734%. ⇑
  • The rate for a 30-year jumbo mortgage is 4.299%. ⇑

The latest mortgage refinance rates

The average refinance rates for 30-year loans, 15-year loans and ARMs are:

  • The refinance rate on a 30-year fixed rate refinance is 4.618%. ⇑
  • The refinance rate on a 15-year fixed rate refinance is 3.599%. ⇑
  • The rollover rate on a 5/1 ARM is 3.22%. ⇑
  • The refinance rate on a 7/1 ARM is 3.495%. ⇑
  • The refinance rate on a 10/1 ARM is 3.602%. ⇑
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Average Mortgage Refinance Rates

Data based on US mortgages closed March 3, 2022

Type of loan 3rd of March Last week Change
15-year fixed conventional 3.6% 3.62% 0.02%
30-year fixed conventional 4.62% 4.57% 0.05%
ARM rate 7/1 3.5% 3.59% 0.09%
ARM rate 10/1 3.6% 3.72% 0.12%

Your actual rate may vary

Where are mortgage rates going this year?

Mortgage rates have fallen through 2020. Millions of homeowners have responded to low mortgage rates by refinancing existing loans and taking out new ones. Many people bought homes they might not have been able to afford if rates were higher. In January 2021, rates briefly dipped to the lowest levels on record, but rose slightly for the rest of the year.

Looking ahead, experts believe that interest rates will rise further in 2022, but also modestly. Factors that could affect rates include continued economic improvement and further labor market gains. The Federal Reserve has also started to scale back its purchases of mortgage-backed securities and said it plans to raise the federal funds rate three times in 2022 to combat rising inflation from March.

While mortgage rates are likely to rise, experts say the increase won’t happen overnight and it won’t be a dramatic jump. Rates are expected to remain near historic lows throughout the first half of the year, rising slightly later in the year. Even with rising rates, it will still be a good time to finance a new home or refinance a mortgage.

Factors that influence mortgage rates include:

  • The Federal Reserve. The Fed acted quickly when the pandemic hit the United States in March 2020. The Fed announced its intention to keep money flowing in the economy by lowering the Federal Fund short-term interest rate between 0% and 0.25%, which is also low as you go. The central bank also pledged to buy mortgage-backed securities and treasury bills, supporting the housing finance market, but began to scale back those purchases in November.
  • The 10-year Treasury bond. Mortgage rates keep pace with government 10-year Treasury bond yields. Yields first fell below 1% in March 2020 and have since risen. On average, there is typically a 1.8 point “spread” between Treasury yields and benchmark mortgage rates.
  • The wider economy. Unemployment rates and changes in gross domestic product are important indicators of the overall health of the economy. When employment and GDP growth are weak, it means the economy is weak, which can lower interest rates. Thanks to the pandemic, unemployment levels reached historic highs early last year and have yet to recover. GDP has also taken a hit, and although it has rebounded somewhat, there is still plenty of room for improvement.

Tips for getting the lowest possible mortgage rate

There is no universal mortgage rate that all borrowers receive. Qualifying for the lowest mortgage rates takes some work and will depend on both personal financial factors and market conditions.

Check your credit score and your credit report. Mistakes or other red flags can lower your credit score. Borrowers with the highest credit scores are the ones who will get the best rates, so it’s essential to check your credit report before you begin the home hunting process. Taking steps to correct mistakes will help increase your score. If you have high credit card balances, paying them off can also give you a quick boost.

Save money for a large down payment. This will lower your loan-to-value ratio, which is the share of the house price that the lender has to finance. A lower LTV usually translates to a lower mortgage rate. Lenders also like to see money that has been saved in an account for at least 60 days. It tells the lender that you have the money to finance the home purchase.

Shop around for the best rate. Don’t settle for the first interest rate a lender offers you. Check with at least three different lenders to see who offers the lowest interest rate. Also consider different types of lenders, such as credit unions and online lenders in addition to traditional banks.

Also, take the time to learn about the different types of loans. Although the 30-year fixed rate mortgage is the most common type of mortgage, consider a shorter-term loan such as a 15-year mortgage or an adjustable rate mortgage. These types of loans often come with a lower rate than a conventional 30-year mortgage. Compare the costs of all to see which best suits your needs and financial situation. Government loans — such as those backed by the Federal Housing Authority, Department of Veterans Affairs, and Department of Agriculture — may be more affordable options for those who qualify.

Finally, lock in your rate. Locking in your rate once you’ve found the right rate, the right loan product, and the right lender will help ensure that your mortgage rate doesn’t increase until the loan is closed.

Our mortgage rate methodology

Money’s Daily Mortgage Rates show the average rate offered by more than 8,000 lenders across the United States for which the most recent rates are available. Today we are posting rates for Thursday, March 3, 2022. Our rates reflect what a typical borrower with a credit score of 700 might expect to pay for a home loan right now. These rates were offered to people depositing 20% ​​deposit and include discount points.

More money :

How to find the best bridging loan – Forbes Advisor UK Fri, 25 Feb 2022 17:26:48 +0000

Finding the best bridge loan for your situation can ease the burden at a time when many financial and practical plates are spinning at the same time.

But, as always, the first step is to fully understand what this type of loan is, how it works and what the risks are.

What is a bridging loan?

A bridge loan is a type of short-term financing typically used when you want to buy a new home before selling your old one.

The loan “bridges” the purchase and the sale.

Bridge loans are usually taken out for a maximum of 12 months and can normally be closed fairly quickly.

What else can a bridging loan be used for?

Although bridging loans are typically used when there is a gap in a residential real estate transaction, they are also often used by real estate investors and developers.

For example, if you buy a property at auction, you should normally complete the transaction within 28 days. This will not be enough time to arrange a standard mortgage, so bridge financing is used instead. The buyer can then remortgage with a traditional lender later.

Bridge loans can also have other uses for property. For example:

  • Real estate renovation
  • Buy a non-mortgage property
  • Buying a property with a short lease
  • Urgent real estate transactions

Bridge loans can also be used for non-property related reasons such as:

  • Repay debts or tax bills
  • Solve short-term business cash flow problems
  • Divorce settlements

Is a bridging loan a secured loan?

Yes, bridge loans are a type of secured loan, so you will need to set up an asset as collateral for the loan.

Having a ‘charge’ on your property means that there is a legal agreement for the lender to proceed with the sale of your property if you do not repay the loan as agreed.

If there are no other mortgages or loans on your property, the bridge loan will be a “first charge” loan. If you have a mortgage on your property, the bridge loan will be a “second charge” loan. Charges refer to the order debts that will be paid when the property is sold.

Because bridge loans are secured loans, you can usually be accepted even if you have bad credit. The downside is that your property may be repossessed if you don’t repay the loan as agreed.

You can usually borrow between £5,000 and £25m (sometimes more) on a bridge loan. The exact amount you can borrow will depend on the value of the property you are posting as collateral.

Where can I get a bridging loan?

  • Banks
  • construction companies
  • Specialized bridging lenders
  • Relay brokers
  • Mortgage brokers

What is a bridging loan exit strategy?

Bridge loans are designed as a short-term financing solution. When you take out one, you’ll usually need to have a plan for how you’ll pay it back: this is called the ‘exit strategy’.

Typical exit strategies include:

  • Sell ​​the property you bought with the bridging loan
  • Selling another property you own
  • Repayment to a standard mortgage
  • Selling a business or other property
  • Money from a business transaction, divorce or inheritance

What are open and closed bridging loans?

Bridge loans can be “open” or “closed”.

Open bridging loans are generally more expensive. They do not have a fixed repayment date and are therefore more flexible than closed bridge loans.

Closed bridge loans require you to have an exit plan and set a payment date when you take out the loan. Closed bridging loans are usually contracted for a few weeks or a few months.

How much does a bridging loan cost?

Bridge loans are expensive compared to other types of mortgages or loans.

Since bridging loans tend to be short-term, interest is charged daily rather than annually. Annual Percentage Rates (APRs) can range from 6% to 20%. By comparison, standard mortgages can be as cheap as 1% or 2%.

Like other types of home financing, lenders offer bridging loans with fixed or variable interest rates.

In addition to interest, you will likely have to pay arrangement fees to the lender, administration fees, appraisal fees and legal fees for the transfer of ownership.

If a broker arranged the loan, there will likely be a fee for that as well.

Do I have to make monthly payments on a bridging loan?

Bridging lenders do not always require monthly repayment. Instead, interest payments are “accumulated”. This means that they are added to the loan and paid at the end of the term. However, this means that interest charges are compounded monthly and can add up quickly.

With some bridge loans, you can pay interest monthly, like an interest-only mortgage. Then you repay the principal of the loan at the end of the term.

Another option is “retained interest”. For example, a loan of £100,000 with an interest rate of 1% would represent £12,000 in interest over a period of 12 months. The lender keeps the £12,000 and the loan amount paid to you is £88,000.

Are bridging loans regulated?

Bridge loans can be regulated by the Financial Conduct Authority (FCA) or unregulated, depending on the nature of the loan.

If a borrower’s home (or a home occupied by close family members of the borrower) is used as collateral for the loan, the bridge loan must be sold as a regulated loan.

The regulations mean that consumers are protected against incorrect advice or mis-selling from lenders or brokers.

However, bridge loans taken out in the name of a business (not an individual) will not be regulated, as they are treated as a business transaction. This means the borrower has less protection.

Advantages and disadvantages of the bridging loan

Bridging loans mean quick access to cash that can help with real estate purchases and time-sensitive business transactions. They often prevent real estate chains from collapsing when a buyer pulls out.

Bridge loans can also provide funds for the purchase of property where the property is not mortgageable for any reason – such as being uninhabitable or having a short term lease.

With the right security, you can borrow a lot of money on a bridging loan and have different repayment options.

On the other hand, bridging loans can be very expensive. If you get the bridge loan on your house and you can’t repay the loan, your house could be repossessed.

For many borrowers, alternative financing options might work better.

How to find the best bridging loan?

Especially when it comes to high-risk financing options like bridge loans, it’s important to compare your options and understand the product before signing up.

A global bridging loan broker will be able to find the best option for your personal situation and guide you through the process. Some brokers do not charge a fee to the client.

You can also compare online bridging loan providers for rates and terms online, and reference any advice or recommendations in relation to this.

What is a no credit check loan? Fri, 25 Feb 2022 08:00:00 +0000

No credit check loans are loans where the lender does not check the borrower’s credit before approving and lending loans. These types of loans can be tempting if your credit is poor and you don’t qualify for other products. However, no credit check loans can be risky and are generally not well regarded as they tend to come with extremely high interest rates.

What is a no credit check loan?

A loan without a credit check is a loan that does not require a credit check. You might be tempted to apply if you don’t have the best credit and think you can’t be approved for other types of financing products. Here are some examples of loans without a credit check:

Payday loans

Payday loans are small, short-term loans that you can repay the next time you get paid. In most cases, you will pay them back within two to four weeks. These no credit check loans are designed to provide you with quick cash to hold you over until your next paycheck.

Installment loans without credit check

With no credit check installment loans, you borrow a lump sum of money and repay it over time via installments or fixed monthly installments. They usually come with larger loan amounts than payday loans and can be used to cover just about any expense.

Auto title loans

Auto title loans are secured loans that use your car as collateral. You give the lender title to your car in exchange for borrowing money. The amount you can receive will depend on the value of your car. Most lenders will let you drive your car while you pay off the loan. If you default on a car title loan, the lender can repossess your vehicle.

Secured credit cards

You cannot be approved for a traditional unsecured credit card with bad credit. This is where secured credit cards come in – some issuers don’t do credit checks for them. When you sign up for a secured credit card, you make a cash deposit which is usually equal to your credit limit. The credit card issuer will take your deposit if you do not pay your bill.

Co-signer loans

If you don’t qualify for a loan on your own, ask a trusted friend or family member to be your co-signer and apply for a loan with you. You’re more likely to be approved and earn a great interest rate if you have a co-signer with good or excellent credit. Just be sure to repay the loan so you can improve your credit and not leave your co-signer responsible for the payments.

Why are no credit check loans a bad idea?

Although no credit check loans may seem like a great option, you should avoid them if possible. Their sky-high interest rates lead to high payments, which can land you in a cycle of debt and wreak havoc on your credit. You may find that a loan without a credit check does more harm than good for your long-term financial situation.

Many no credit check loans are considered predatory loans because the exorbitant interest rates can trap people in a cycle where they will never be able to repay the loan. Some lenders also add additional fees that make it even more difficult to get your finances back in order. Many no credit check loans turn out to be scams. Finally, since this type of loan does not build your credit, you lose the possibility of having your payments contribute to increasing your credit score.

Can I get a loan with bad credit?

You don’t have to turn to a no credit check loan if you have bad credit. Fortunately, there are many lenders who accept borrowers with bad credit. They may look at factors other than your credit to determine if they should approve you for a loan, such as your income, work history, and debt-to-equity ratio.

What are the alternatives to loans without credit check?

There are several alternatives to no credit check loans that can give you the funds you need, even if you have bad credit or no credit. Here is a brief overview of them.

Bad credit lenders

A number of lenders specialize in providing money to borrowers with bad credit. If you go with a bad credit lender, you may be able to get a relatively low interest rate for someone with less than stellar credit.

credit unions

Compared to banks, credit unions often have lenient requirements. As long as you are a member, you may be able to get approved for a loan from a credit union, even with bad credit. Credit unions will likely look at your overall financial situation in addition to your credit. In addition, the interest rate they can charge is capped at 18%.

Alternative payday loans

Alternative payday loans (ALPs) are small, short-term loans offered by some federal credit unions. They are generally more affordable than traditional payday loans and come with longer repayment terms. If you apply for PAL, a credit union will ask you for proof of your income to ensure that you can repay your loan.

Secured loans

Secured loans are backed by collateral, which is something valuable that you own. Collateral can be a physical asset such as a house, car or boat. It can also be a cash deposit. Since secured loans are less risky for lenders, you can get approved for a loan with bad credit. The caveat, however, is that the lender can seize your collateral if you fail to repay your loan.

The bottom line

If you have bad credit or no credit and need to borrow money, do not resort to a loan without a credit check. Instead, explore the alternatives available to you and think about the pros and cons of each. By choosing an alternative like a loan from a lender with bad credit, you can save on interest and significantly reduce the overall cost of borrowing.

Learn more:

SEC Gives Green Light to Bank of Commerce IPO and Registration of SMC Bonds Wed, 16 Feb 2022 16:06:27 +0000

The Securities and Exchange Commission (SEC) said Wednesday that it “considered favourably” public offerings from Bank of Commerce and San Miguel Corp. (SMC).

“At its February 15 meeting, the Commission En Banc decided to make effective the registration statements of Bank of Commerce and SMC covering 1,403,013,920 ordinary shares and up to 60 billion pesos of fixed rate bonds. subject to prior registration, respectively, subject to their compliance with certain remaining requirements,” the SEC said in a statement.

SMC’s subsidiary, Bank of Commerce, plans an initial public offering (IPO) of 3.5 billion pesos, while SMC will offer up to 30 billion pesos of fixed-rate bonds in a first tranche of registered bonds shelf.

Bank of Commerce will sell more than 280.6 million ordinary shares to the public for up to 12.50 pesos. The SEC said the company could withdraw 3.34 billion pesos from the offering.

According to the latest schedule submitted to the SEC, Bank of Commerce plans to proceed with its IPO from March 7 to 16, while its listing on the main board of the Philippine Stock Exchange is scheduled for March 23.

Proceeds from Bank of Commerce’s IPO will be used to fund its lending activities, the acquisition of investment securities and to fund capital expenditure requirements, which involve upgrading its fleet of ATMs and of its central banking system.

As of September 30, 2021, Bank of Commerce had 140 branches and 257 ATMs.

The company brought in BDO Capital & Investment Corp., China Bank Capital Corp., Philippine Commercial Capital, Inc. (PCCI) and PNB Capital Investment Corp. as co-issue managers, co-lead managers and co-bookrunners for the offering.

SMC can issue fixed rate bonds of 60 billion pesos in one or more tranches within three years. The initial tranche amounts to 30 billion pesos, consisting of 25 billion pesos five-year series J bonds due 2027 and an over-allotment option of up to 5 billion pesos of series bonds K at seven years maturing in 2029.

According to the latest schedule submitted to the SEC, the first tranche bonds will be offered at face value and will be listed on the Philippine Dealing & Exchange Corp. on March 1.

If the over-allotment option is exercised, SMC could withdraw up to 29.63 billion pesos from the offering. The proceeds will be used to refinance the company’s short-term loans as well as for general corporate purposes.

SMC has engaged BDO Capital and China Bank Capital to be joint issue managers for the offering and will be joined by BPI Capital Corp., PCCI, PNB Capital, RCBC Capital Corp. and SB Capital Investment Corp. as co-managers and bookrunners of the transaction. . — Keren Concepcion G. Valmonte

]]> How can I find the best performing CDs? Sat, 12 Feb 2022 02:30:00 +0000

Q. How can I find the best performing CDs?

— Looking for more

A. That’s a good question, and certainly interesting because interest rates rise.

To find the best performing CD rate, you will need to do some research.

You will probably find watch online be the easiest way to go, said Howard Milove, chartered accountant at Access Wealth in East Hanover.

“Many ‘bricks and mortar’ banks offer promotional offers to bring in deposits, but the rate drops significantly after the promotional period expires – so be sure to read the fine print,” he said. . “Credit unions, online-only banks, and internet divisions of traditional banks can also offer great rates. Since credit unions and internet-only banks have lower overhead, they often offer better rates than traditional banks. »

Certain factors play a role in determining your interest rate.

For example, he says, the term of the CD represents how long you’re looking to invest the money, such as six months, one year, or five years.

Many banks will also require a minimum deposit to get the highest rate, he said.

As an important note, you should consider whether CDs are the most appropriate investment vehicle for your goals, Milove said.

“CDs offer guarantees and stability and are FDIC-insured up to $250,000, but generally offer lower returns over time,” he said. “There could also be early withdrawal penalties if you need access to money before the end of the term.

If you want to earn a higher interest rate than a traditional bank savings account and the money is for short-term use, then CDs make sense, he said.

You can also consider a high yield savings account instead of CDs, Milove said, because the rates can be similar and you have immediate access to cash.

“Finally, if you don’t need the money in the short term and you have more than 3 years to invest the money, consider talking to an investment advisor who can illustrate how taking more risk can get a rate higher yield,” he said. .

Send your questions to

Karin Price Mueller writes the Bamboos column for NJ Advance Media and is the founder of Follow NJMoneyHelp on Twitter @NJMoneyHelp. Find NJMoneyHelp on Facebook. Register for NJMoneyHelp.comit is weekly e-newsletter.

Payday Loans Maine offers you financial assistance without credit checks or other formalities – Fri, 11 Feb 2022 05:14:08 +0000

Maine boasts a low cost of living, affordable housing, and many working industries throughout the state. However, with an average state income of $56,000, Maine residents have lower incomes than the national average. This leaves many residents with unpaid bills waiting for payday. Don’t let a high energy bill or an extra trip to the grocery store cause you to rack up credit card debt or overdraw your account. Cash loans are allowed in the state of Maine, but are heavily regulated. The Lobster State only allows fully licensed lenders to make loans, which means very few lenders can. In fact, according to the Bureau of Consumer Credit Protection, there are only 15 approved lenders in the state. does not control the amount of such fees or charges you may incur for non-payment, late payment, or partial payment. Retirement shouldn’t stop you from getting this flexible financial option. Seniors can still get payday loans even after retirement. Payday loans can be used to quickly receive income from Social Security, dividends or any other source of income. Maine also has a maximum loan amount you can take out at one time. Illegal payday loans can be dangerous for you, as a borrower can be subject to excessive fees and fines.

All Licensed Credit Unions in Maine

An unexpected expense can completely change your life, especially if you don’t have the resources to cover it. Payday loan emergency funding can help, as long as you can repay the money quickly. If you are unsure whether a lender is reputable and legal, you can contact the state attorney’s office for more information. You should not work with a company that does not have a legitimate business license. For example, they may not follow specific laws designed to protect users and may charge them higher interest rates. It is important to provide personal and financial information when using these online loan services. Therefore, it is essential that you choose a lender who guarantees the safety and security of all your data. Personal loans strive for quick deposits; this is quite rare for online lending sites that offer large loan amounts.

  • However, the state eventually passed regulations to make the industry more friendly to businesses and their customers.
  • When you get a personal loan through an online payday network, you must be able to provide a bank account number to an account in your name.
  • Your loan repayment terms will depend on the type of loan you get and the lender you get it from.

In some cases, you may need to visit a physical store/branch to complete your loan application process. Please contact your lender directly if you have any questions or issues regarding your loan. MoneyMutual has received over 2 million positive reviews from across the United States. Customers are very satisfied with the reliable lenders and the quick response time of the site. Additionally, MoneyMutual has pleased several customers by offering installment loans, payday loans, and bad credit loans. Some companies do not offer their services to people who have serious money problems or who have recently gone bankrupt. If you can pay it all off at once, sometimes a payday loan can be cheaper. See Payday Loans or Installment Loans for more information on comparing these two types of loans.

Loan Providers in Saco, Maine

Moreover, the lenders do not ask for any collateral, which makes payday loans unsecured. Read the information the loan provider gives you before entering into the contract. This can include information about interest rates, monthly payments, terms and other details. Maine State Laws Allow Online Payday Loans Maine payday loans providers to offer loans even if they are out of state. However, these lenders are still required to have an official license and follow all state laws regarding the terms and conditions of payday loans. If you are not really interested in online cash loans, it is normal to doubt getting them.
Maine payday loans
So if you’ve had enough of it and it really bothers you, EasyLoans will solve that problem. Again, a payday loan will be a good idea to cover your extra payments. However, it is not easy to obtain a bank loan, or even a mortgage loan. In addition, this process is time-consuming, it can take 30 days or even a year. In this case, a personal loan is a good solution to your financial problems in a short time. However, if you already have a payday loan, you are not allowed to take out another one.

Species X

Any business that is not on the list of exempt businesses is not permitted to cash post-dated cheques. Your bad credit isn’t a problem, but you still need a steady source of income and earn at least $1,000 a month. This way we can be sure that you can handle the refund. Lending money to someone under that age is illegal in the United States. So if you are over 18, you now meet the first condition. From pristine beaches and beautiful lakes to miles of forests, Maine offers plenty of ways to enjoy the great outdoors. Vibrant cities like Augusta, Bangor and Portland offer arts, industry and culture for residents and visitors. If you’re a proud Maine resident, find out how a payday loan can help you pay your bills and avoid the stress of unexpected expenses.

As mentioned, you don’t need to have a good credit history. Any American who is over the age of majority and meets the lender’s requirements is eligible to take out a fast loan. If you are still confused about where to get the fast loan, you should go online. Online payday loans are very convenient and require minimal effort. We will transfer your money after your applications are approved.

First, you can approach your creditor with this issue if your balance is at least 78% of the original purchase price and you have already paid PMI for five years. Second, you can simply refinance your FHA loan into a conventional loan. LendersDirect Loans The direct lender is a state regulated financial institution. State finance license. Since it is hardly possible to determine the reasons that different suppliers rely on, discuss it with yours. However, the chances of being rejected are incredibly low if you follow the standard advice mentioned above. Maximum amount – The recommended limit on the amount borrowers can be offered is $2,000. For lower loan amounts, the maximum finance charge is $5 for any loan up to $75; $15 for loans between $75.01 and $249.99; and $25 for loans over $250.

Why are payday loan interest rates so high?

Payday loans are expensive

The short-term, high-risk nature of payday loans makes them expensive. If someone wants to borrow $200 for two weeks, 5% of the loan is $10. If you assume that the loan fee is an annual fee, the interest rate must be rolled over 26 times (annual rate).

To complete this process, the borrower must send their request to customer support. Nevertheless, it is essential to return the sum as soon as the request is approved. Payday loan company Checkmate offers loans ranging from $50 to $1,000, depending on where you are staying. They not only offer payday loans, but also installment loans and personal loans. Checkmate is one of the payday loan companies you should try before others. We prefer Maine enders licensed in your state as they are generally more tightly regulated and monitored. State-licensed lenders generally must apply, register, and remain compliant in each state in which they operate. As a result, state-licensed lenders tend to be larger, more permanent businesses. Maine payday loans with no credit check are often more affordable than overdraft fees. Imagine you write a bad check and your account debits a large sum of money that multiplies at a high rate.

No-show interview and the myths of Marcos Sun, 06 Feb 2022 13:18:25 +0000

It is disappointing that Bongbong Marcos chose not to participate in Jessica Soho’s presidential interview last month. Although I realize he has a lot to avoid, I never thought of him as a man who would easily back down from public discourse. His refusal to participate confirmed two of my hypotheses about him. First, that he is unable to defend his family’s wealth, his human rights record and his personal achievements in a serious interview. And two, that he would rather let the trolls fight their wars for him through half-truths and misinformation.

What are the issues that Marcos Jr. can’t seem to defend? What questions does he hesitate to answer?

Thanks to well-produced videos, memes and posts on social media, certain myths have formed about the presidency of Ferdinand Marcos and Marcos Jr. himself. Some of these myths cannot be defended in an intelligent fact-based interview.

Myth #1. That the 1970s, under martial law, were the country’s golden age. It was a time when the country was prosperous and poverty did not exist.

Here are the facts. During the 21 years that Marcos was in charge, the economy only grew at an average rate of 3.8%. We were left behind by Thailand and Malaysia whose economies grew by 6-7%.

The peso depreciated from a steep 3.92P to a US dollar in 1965 to 19.99P in 1986 – a loss in value of 500%; real wages (purchasing power) fell from 100 P/day in 1966 to only 27 P/day in 1986; per capita income has only tripled in 21 years, while it has increased tenfold in Thailand and Malaysia; unemployment was 7.2% in 1965 and jumped to 33% in 1986; poverty rates were 7.2% in 1965 and reached a staggering 44.2% in 1986.

At the time Marcos was ousted, the Philippines was among the poorest countries in Asia with lower per capita income than Japan, Singapore, Brunei, Macao, Hong Kong, Taiwan, South Korea, Malaysia, Maldives, Thailand and even Mongolia. .

We have lost competitiveness in most of our industries. Martial law gave Marcos extraordinary legislative and executive powers which he used to sequester successful industrial enterprises such as automobile manufacturing, steel mills, and textile mills. These companies were taken over by cronies, not all of whom managed to maintain their profitability. The failure was partly due to corruption and partly due to a simple lack of management expertise. Marcos selected his acolytes not for their talents but for their loyalty.

In agriculture, the cronies were driven to establish monopolies to give the dictator absolute economic control of the sector. As court records indicate, Danding Cojuangco controlled the coconut industry, Juan Ponce Enrile controlled logging, and Roberto Benedicto controlled sugar. These industries eventually collapsed as well.

The era of martial law was not the golden age of the Philippines, rather it was the time of our great fall from one of the richest countries in Asia to one of the poorest.

Myth #2. That the Marcos era was the pinnacle of infrastructure.

Here are the facts. With borrowed funds, Marcos established the Construction and Development Corporation of the Philippines (CDCP). While it is true that roads, bridges and classrooms have been built by the CDCP, significant sums have fallen into personal pockets. It was the same story for the electricity sector, the housing sector and the transport sector.

History further shows that infrastructure projects were often over-engineered, designed to extract maximum commission or kickbacks.

Prestige projects like the Cultural Center, the Coconut Palace and the Folk Arts Theater projected the image of progress but had little or no economic impact. They were built to create an illusion of prosperity, all financed by debt.

Speaking of debt – from a foreign debt of just $600 million when Marcos took office in 1965, foreign bonds rose 43 times to $26 billion in 1986. In October 1983, the Marcos government exhausted its dollar reserves and had no choice but to declare a debt moratorium. To keep the economy afloat, Marcos resorted to short-term loans at high interest rates. In 1986, our debts were so massive that debt service alone accounted for half of the country’s exports. This led to a currency crisis and the need to further devalue the peso.

Economists agree that the Philippines’ economic collapse of the 1980s was due to Marcos’ debt-driven economic policy. Heavy indebtedness was also the reason that successive governments in the 1990s and early 2000s were unable to invest much in infrastructure and social services.

Myth #3. Marcos fought the oligarchs.

The fact is that Marcos was the oligarch of oligarchs. In 1998, Imelda boasted of a Applicant interview, and I quote: “We own practically everything in the Philippines, from electricity, telecommunications, airlines, banks, beer, tobacco, newspaper publishing, television stations, transport shipping, petroleum, mining, hotels and resorts, to coconut milling, small farms, real estate and insurance.

Successful businesses have been sequestered by Marcos from hard-working entrepreneurs. But because the Marcoses and their cronies had little management expertise, these companies ended up going bankrupt. This is why the Philippines has lost its economic competitiveness in multiple industries.

Myth #4. Marcos Jr. is the most prepared and trusted presidential candidate.

We all know that Marcos Jr. lied about his college degrees, lied in court about his family’s ill-gotten wealth, lied about human rights abuses, and failed to file his tax returns. How can a liar and tax delinquent be considered trustworthy?

As for its governance capabilities, the best benchmark is to look at Ilocos Norte. Marcos Jr. and his kin controlled Ilocos Norte for decades. Yet it remains one of the poorest regions of the country where the majority live hand to mouth. A quick look at NEDA statistics on regional GDP proves it. They don’t have world-class industries to speak of. The Bangui wind farm, for which Marcos Jr. takes credit, was not built by him but by Northwind Power, a subsidiary of Ayala.

Interviews and debates are meant to reveal a candidate’s true courage. They are intended to clarify doubts and illuminate gray areas. By refusing to be interviewed, it’s clear that Marcos Jr. prefers to live in the shadows — relying on trolls to spread myths..

Andrew J. Masigan is an economist

Facebook@AndrewJ. Masigan

Twitter @aj_masigan

]]> Arizona Small Business Loans | Navigation Fri, 28 Jan 2022 21:30:55 +0000

There are more than 550,000 small business owners in Arizona, from Phoenix to Tucson to Sedona, and they all have one thing in common: they need capital to grow.

Sometimes they have this capital in reserve in their bank accounts. Sometimes they need to find it elsewhere. This is where small business loans can come in handy.

How a Small Business Loan Can Help Your Business in Arizona

Small business loans can be used for so many things. They can provide working capital while you wait for customers to pay their bills. If yours is a seasonal business in Arizona, this money can get you through your busy season.

You can use a business loan to fund marketing, hire employees, or buy equipment. And if business acquisitions are on your list, corporate financing can also help.

The question is, how can small business loans NOT help your business in Arizona?

Types of small business loans to choose from

Business financing comes in many shapes and sizes. Whether you’re looking for a $5,000 microloan or a big $1 million home loan, there are lenders in Arizona who can help.

SBA Loans

The United States Small Business Administration guarantees loans through several loan programs, including SBA 7(a) loans, SBA 504 loans, and microloans. These loans have low interest rates and long repayment periods. Learn more at

Term loans

Banks, credit unions, and online lenders offer long-term loans with low interest rates to those with excellent credit.

If you don’t have good credit, you may qualify for short term loans. These may have higher interest rates, but be easier to obtain.

Lines of credit

Rather than getting all the money at once, a line of credit lets you borrow what you need on that line and pay it back, then borrow again.

Commercial real estate loans

Just as you would take out a mortgage for a home, you can also take out a commercial mortgage to purchase investment property, retail space, warehouses and offices.

Business credit cards

Having a business credit card allows you to make purchases for your business in stores and online. Get a card with rewards, and it can pay for itself.

Small Business Loans Available in Arizona

Here are some of the lenders who can help you get any type of loan in Arizona.


Newtek offers loans between $1,000 and $15 million, so whatever your financing needs, the lender can help. The loans, with terms ranging from 7 to 25 years, can be used for business acquisition, refinancing or commercial real estate.

Arizona Bank and Trust

Arizona Bank & Trust is an SBA lender and also offers commercial lines of credit, term loans and leasing solutions. Plus, you can get a business credit card, high-yield savings, and cash management services.


Looking for a $1,000 to $150,000 line of credit? Kabbage can help. Its financing solutions are backed by American Express, which means you have access to cash management tools.

Alliance Bank of Arizona

Alliance Bank of Arizona is an SBA lender and offers 504, 7(a), and SBA Express loans at low interest rates. The bank also offers a variety of other business banking services, ranging from checking and savings to business credit cards and term loans.

What it takes to get approved for a small business loan

Each lender has slightly different eligibility criteria for approving a loan application. Typically they want you to have at least two years in business, so startups can have trouble getting loans from banks and the SBA.

You may need to post collateral for a loan, so make sure you have high-value fixed assets that you can use. Some lenders, like the SBA or banks, may ask you to provide certain documents like a business plan and/or financial statements and tax returns.

How to choose the right loan for your small business in Arizona

The right loan depends on your business needs. Are you looking for $5,000 to buy equipment or $1 million to buy real estate? How much can you afford to borrow? Remember that the loan amount you agree to borrow must be repaid, so be sure to budget for this monthly repayment cost.

Also think about what you are entitled to. If you have good credit, you have plenty of options at low rates. If your credit is bad, you will have fewer options and you will pay more interest. Is it worth getting the financing your business needs in Arizona?

Small Business Grant Options for Arizona

Small business loans aren’t your only option for getting working capital in Arizona. There are also grant programs that can provide funds that you don’t have to repay.


The EmergeAZ grant is a partnership between the Office of the Governor, invisionAZ, and StartupAZ, and is intended to help startups involved in addressing issues caused by the COVID-19 pandemic. To qualify, your startup must have a product on the market, be in business for at least one year, and have five or more employees.

Nav Small Business Grant

Nav is doing its part to help businesses in Arizona (and those in other states) find the funds they need to grow. Nav’s Small Business Grant provides $10,000 to one lucky business each quarter and $5,000 the second.

PHXbiz Grants

In Phoenix, PHXbizGrants is offering grants of up to $15,000 to help micro and small businesses cover business expenses during the pandemic. To qualify, you must have a Phoenix business at least a year old, 25 or fewer employees, and gross sales of $3 million or less. Additionally, your gross sales must have decreased by at least 25% due to COVID-19 after March 1, 2021.

Additional Resources for Arizona Small Businesses

Learn about some of the business resources available to you as an Arizona business.

Arizona SBDCs

The Arizona Small Business Development Center has 10 district offices statewide and offers free training, events, and consulting.

AZSTEP program

The AZSTEP program helps small businesses interested in entering export markets for the first time or expanding into new markets. The program offers compliance training, trade shows, go-to-market initiatives and education.

Arizona Small Business Boot Camp and Collective

Don’t let the term boot camp scare you off. This initiative, set up by the Arizona Commerce Authority and Local First Arizona, offers a series of webinars and resources to help entrepreneurs recover from the pandemic.

With so many financing options and resources available to small businesses, it’s no wonder there are so many great businesses in Arizona. How will you develop yours?

This article was originally written on January 28, 2022.

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Argentina Reaches Landmark IMF Deal in $45 Billion Debt Negotiations Fri, 28 Jan 2022 16:04:11 +0000

Argentina has reached an agreement in principle with the International Monetary Fund on a new $44.5 billion stand-by arrangement, the two sides announced on Friday, a major step forward in tense talks to restructure loans the country does not can not refund. The South American country has been in talks for more than a year with the IMF over a new program to reorganize outstanding debt following the collapse of a 2018 $57 billion loan deal, the largest ever achieved by the fund. He was facing a $700 million payment due Friday.

“We had unpayable debt, which left us with no present or future. We now have a reasonable deal that will allow us to grow and meet our obligations through growth,” President Alberto Fernandez said in an address to the nation. He said the deal would not limit Argentina’s economic plans or spending, which had been something of a red line for a country emerging from years of recession and the harsh impact of the COVID-19 pandemic.

The IMF said in a statement that its staff had reached “agreement” with the government on key policies that would underpin the final deal, including the path to fiscal consolidation, which had been a sticking point. key in the talks. “IMF staff and the Argentine authorities have reached agreement on key policies in the context of their ongoing discussions on an IMF-supported program,” Luis Cubeddu, mission chief for Argentina, said in a statement. communicated.

“The agreed fiscal path would gradually and sustainably improve public finances and reduce monetary financing.” The deal would allow increased spending on infrastructure, science and technology, and protect targeted social programs, the IMF said, while energy subsidies would be reduced “gradually”.

The two sides will continue their work in the coming weeks with a view to reaching an agreement at the staff level, the IMF added. ‘JUST THE BEGINNING’

Recent uncertainty over a deal has hammered Argentina’s sovereign bonds, while anti-IMF rhetoric has intensified in the grain-producing country, with some protesters calling on the government on Thursday to halt repayments. The country’s sovereign bonds jumped 6% on average on Friday morning, while stock indices and the freely traded black market peso all jumped Friday morning after the news.

Argentine Economy Minister Martin Guzman told a press conference that under the deal the country would aim to reduce its budget deficit to 0.9% by 2024 and put phasing out central bank funding to the treasury. “We hope to meet our deficit targets with real spending that does not halt the economic recovery and be able to gradually strengthen tax collection,” Guzman said.

He ruled out a sharp devaluation of the exchange rate, said the country would seek to have positive real interest rates and bring down runaway inflation currently above 50% on an annual basis, which hurts the economy. savings and wages. Argentina and the IMF were at odds in discussions over how quickly Argentina should reduce its budget deficit, with the country saying it needed to be able to maintain spending to preserve the fragile recovery in economic growth.

Nikhil Sanghani, Latin America economist at Capital Economics, said the deal – after months of “hardball” tactics – would bring “some relief to holders of short-term international bonds”, although many problems subsist. “This is just the start of a long journey to correct Argentina’s macroeconomic imbalances, and there are still many things that could go wrong over the next few years,” he said in a statement. note.

(This story has not been edited by the Devdiscourse team and is auto-generated from a syndicated feed.)

College loan debt is a barrier to home ownership Thu, 27 Jan 2022 14:37:24 +0000 In recent years, the Albany metro area has been named a top destination for millennials, earning top spots on several “best” lists, joining the Capital Region with cities like Charlotte, Denver, Pittsburgh and Saint -Louis. But with the claim of being a vibrant, affordable and commuter-friendly place to live, there are some fine print – that many college graduates live with enough student debt to make permanent residence in the capital look like to a chimera.

Heather Thompson, 25, of Saratoga Springs, owes about $89,000 in college debt, putting her well above the state average of $37,708 per borrower. Total student loan debt in New York today stands at $99.8 billion, according to a recent survey by the National Association of Realtors.

“When I first graduated from college, I had no idea how high my payouts were going to be,” said Thompson, who earned a bachelor’s degree in health science from Russell Sage College in 2018. I started paying $1,000 a month, and I refinanced my loans twice to lower the interest rate and repayments.

Thompson’s monthly refinanced loan payment is more than $600, double the Albany average, according to the NAR poll. That’s more each month than his share of the rent. Thompson and her boyfriend, Jordan Turner, share an apartment and recently adopted a dog. They would like to expand their living space, but because of Thompson’s debt, they don’t see how to make it happen.

“The idea of ​​being a landlord is far from my financial situation,” said Thompson, who juggles several part-time jobs. She is a nanny, social media manager and model. “I don’t have much of a savings account once I take care of my bills and use what I can to medicate myself or just live my life. My stepdad recently co-signed another loan so I can rent a car.”

Thompson says there are advantages to renting within walking distance of downtown Saratoga Springs, where the median list price for a single-family home in December 2021 was $619,000. Instead of a private outdoor space for their pup, the couple roams local parks, restaurants and attractions. Thompson felt less pressure moving into her boyfriend’s apartment, foregoing serious credit checks or an income check more commonly associated with the mortgage application process.

“It can be very difficult for buyers with student debt to apply for a mortgage,” said Mell Meus, mortgage loan officer at Fairway Independent Mortgage Corp. “Lenders are required to include a percentage of the total student loan balance in the debt-to-income ratio – which ultimately reduces the amount of funds a person can borrow.

The median selling price of a home in the United States was just $400,000 in the fourth quarter of 2021, according to the St. Louis Federal Reserve. In the Capital Region, an October sale price report from the Greater Capital Association of Realtors said the median sale price for a single-family home was $256,000.

Meus said a potential buyer with high student debt should work to minimize debt in other areas, such as credit cards or car loans, and also be open to buying a unit. multifamily to ultimately reduce the cost of a future mortgage.

“We are able to use 75% of the potential rental income from the non-occupying unit to qualify for a mortgage, which translates to more income to offset student loan debt,” Meus said.

If Thompson and her boyfriend were considering buying a home in the short term, it would likely require them to move to a city more affordable for first-time buyers in the Capital Region. They also considered moving to Florida for a better cost of living, but said they have family in the Albany area who help them settle here.

“Hopefully in the next two years we can save up to split a down payment between the two of us,” Thompson said. “I’m hopeful, but I’m not looking forward to paying off the rest of my student debt over the next 15 years.”

Like many other millennials who make up nearly 13% of the local population, Thompson is in the same position now that Ali and Josh Lupo found themselves after graduating from state universities in 2013 with combined student debt. of $100,000.

“Our initial mindset after graduating (with so much debt) was that we weren’t alone, and it didn’t matter if it took us a few decades to pay it off,” Ali Lupo said. , who now goes by “The Fi Couple” on Instagram with her husband. “It wasn’t until we started planning and budgeting for our wedding in 2018 that we took a hard look at our finances.”

The couple quickly realized that they were spending as much each month as they were earning, and that their student loan repayments totaled the cost of a mortgage.

“Our debt was a huge barrier to buying a home, starting a family, saving for retirement, or transitioning into less stressful careers,” Ali Lupo said. “We knew we had to get rid of this debt to change our lives. And no one was going to come and save us.

The Lupos invested in real estate as a potential way to earn extra income and learn about saving and spending.

“We skipped our honeymoon, recouped every dollar we had, and bought a 120-year-old duplex,” Josh Lupo said. Renting one of the units has reduced the couple’s cost of living and paid more than half of the mortgage payment, allowing them to gradually increase their income and apply the remaining money to their debt. ‘studies.

Today, the Lupos have two investment properties in Rensselaer County and are debt-free, having settled their $100,000 student loan debt in three years. They post tips and tricks on Instagram on how to use real estate as a wealth-building tool. They have over 85,000 subscribers.

“We made a bunch of financial mistakes, had a ton of debt and had very average incomes with no experience in real estate,” Ali Lupo said. “And despite all that, we were still able to invest in real estate and pay off our student debt in just three years.”

Their goal is to normalize conversations about debt, personal finance and investing for the average millennial, and let people know that the path they’ve taken in real estate isn’t just for do-it-yourselfers or to those who are already rich.

“We knew we couldn’t afford our dream home or anything, but rather than continue to feel hopeless and frustrated with our debt, we took ownership and responsibility for it.”

60: The percentage of non-homeowner millennials who say student loan debt is delaying their ability to buy a home, according to a survey by the National Association of Realtors.

12.7: Percentage of Albany’s population made up of millennials. In 2021, there was an estimated population of 132,100 people between the ages of 20 and 34

$99.8 billion: student loan debt in New York

$38,708: Average student loan balance in Albany (making it one of the highest average balances in the state)

$327: The Average Monthly Student Loan Payment in Albany

The Lupos learned about real estate investing from online communities, books and podcasts. After paying off their debt, they also eliminated monthly housing costs and are on track to retire in their 30s.

“If home ownership is a goal, we recommend talking to a mortgage lender and getting all the facts about your debt ratio and the impact of your student loans on your ability to buy a home” , said Josh Lupo. “It’s been a tough journey and we’ve made a lot of sacrifices, but every choice we’ve made has brought us closer to our ultimate dream of being able to spend more time doing what we love with the people who matter most.”